techcrunch.com – The scale of the opportunity in Cloud computing and SaaS was underlined today with the news that Notion Capital has closed its third fund with a first round of $120m, with a final close of $150m expected. Funds under management will therefore be over $300m. Partners and brothers Ben and Jos White formed Notion in 2008 after selling MessageLabs to Symantec for $700m, one of Europe’s largest B2B SaaS exits. But what is key to note here is the scale of opportunity for European enterprise startups.
For starters, the news makes Notion the biggest dedicated B2B SaaS fund in Europe with 33 investments including Tradeshift, NewVoiceMedia, CurrencyCloud, DueDil, AdBrain and Trustev. It’s already had European exits such as Shutl, to Ebay and Star, to Claranet. Its portfolio also includes many of hottest SaaS companies in Europe right now, including Adbrain, Brightpearl, Currency Cloud, Duedil, IOCS and MOVE Guides.
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